California Public Employees Retirement System Cuts Stock Holdings in Wingstop Inc. (NASDAQ:WING)

California Public Employees Retirement System reduced its stake in Wingstop Inc. (NASDAQ:WINGGet Rating) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,418 shares of the restaurant operator’s stock after selling 195 shares during the quarter. California Public Employees Retirement System’s holdings in Wingstop were worth $4,667,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Wingstop by 11.9% in the 2nd quarter. Fifth Third Bancorp now owns 838 shares of the restaurant operator’s stock worth $63,000 after acquiring an additional 89 shares in the last quarter. Lindbrook Capital LLC grew its position in Wingstop by 12.9% in the 2nd quarter. Lindbrook Capital LLC now owns 807 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 92 shares in the last quarter. Congress Asset Management Co. MA increased its stake in Wingstop by 1.0% in the 2nd quarter. Congress Asset Management Co. MA now owns 9,890 shares of the restaurant operator’s stock valued at $739,000 after buying an additional 100 shares during the last quarter. Smith Anglin Financial LLC lifted its position in shares of Wingstop by 3.8% during the 2nd quarter. Smith Anglin Financial LLC now owns 3,856 shares of the restaurant operator’s stock worth $288,000 after buying an additional 140 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Wingstop by 0.6% in the 2nd quarter. Retirement Systems of Alabama now owns 39,357 shares of the restaurant operator’s stock worth $2,943,000 after buying an additional 223 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WING. Citigroup increased their price target on Wingstop from $150.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, October 27th. Truist Financial lifted their target price on Wingstop from $125.00 to $132.00 in a research note on Thursday, October 27th. Stifel Nicolaus boosted their price target on shares of Wingstop from $120.00 to $140.00 in a report on Thursday, October 27th. Wedbush raised their price objective on shares of Wingstop from $157.00 to $177.00 and gave the stock an “outperform” rating in a report on Wednesday, October 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Wingstop from $117.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wingstop presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.06.

Insider Buying and Selling

In other Wingstop news, EVP Stacy Peterson sold 6,427 shares of the firm’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $160.25, for a total value of $1,029,926.75. Following the completion of the transaction, the executive vice president now directly owns 2,004 shares of the company’s stock, valued at approximately $321,141. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Wingstop news, EVP Stacy Peterson sold 6,427 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $160.25, for a total value of $1,029,926.75. Following the transaction, the executive vice president now directly owns 2,004 shares in the company, valued at approximately $321,141. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Albert G. Mcgrath sold 1,500 shares of Wingstop stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $159.77, for a total value of $239,655.00. Following the sale, the senior vice president now owns 2,357 shares of the company’s stock, valued at approximately $376,577.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,754 shares of company stock valued at $1,877,998. Company insiders own 0.64% of the company’s stock.

Wingstop Stock Performance

Shares of NASDAQ WING opened at $158.50 on Friday. Wingstop Inc. has a fifty-two week low of $67.67 and a fifty-two week high of $178.68. The stock has a market cap of $4.74 billion, a PE ratio of 112.41, a price-to-earnings-growth ratio of 8.73 and a beta of 1.61. The stock has a fifty day moving average of $141.29 and a 200-day moving average of $114.49.

Wingstop (NASDAQ:WINGGet Rating) last issued its earnings results on Wednesday, October 26th. The restaurant operator reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. The business had revenue of $92.67 million during the quarter, compared to the consensus estimate of $89.81 million. Wingstop had a negative return on equity of 11.46% and a net margin of 13.01%. On average, sell-side analysts predict that Wingstop Inc. will post 1.65 EPS for the current year.

Wingstop Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 9th. This represents a $0.76 annualized dividend and a yield of 0.48%. Wingstop’s dividend payout ratio is currently 53.90%.

About Wingstop

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Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

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Institutional Ownership by Quarter for Wingstop (NASDAQ:WING)

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